Whenever Treasury has reason to believe that a company is not complying with the requirements of 31 U.S.C. 9304-9308 and/or the regulations under this part, including but not limited to a failure to satisfy corporate and financial standards, Treasury shall:
(a)Notify the company of the facts or conduct which indicate such non-compliance, and provide the company an opportunity to respond, and
(b)Revoke a company's certificate of authority after providing notice to the company if:
(1)The company does not respond satisfactorily to Treasury's notification of non-compliance, or
(2)The company responded, was provided an opportunity to demonstrate or achieve compliance, and failed to do so.